Asian
stocks rose, following a rebound in U.S. shares, after an unexpected
drop in American retail sales strengthened the case for keeping interest
rates lower for longer in the world’s largest economy.
The
MSCI Asia Pacific Index advanced 0.1 percent to 144 as of 9:01 a.m. in
Tokyo, paring this week’s decline to 1 percent. Rate bets were tempered
Thursday after retail sales slipped for a third straight month. The
Standard & Poor’s 500 Index jumped 1.3 percent after faltering
earlier this week as a better-than-forecast U.S. jobs report raised
concern the Federal Reserve will increase rates sooner than some
expected.
Japan’s
Topix index added 0.3 percent. South Korea’s Kospi index advanced 0.9
percent and Australia’s S&P/ASX 200 Index slid 0.3 percent. New
Zealand’s NZX 50 Index gained 0.3 percent.
Futures
contracts on Hong Kong’s Hang Seng Index rose 0.3 percent, while
contracts on the Hang Seng China Enterprises Index of mainland firms
listed in the city advanced 0.5 percent. Singapore-traded futures on the
FTSE China A50 Index climbed 0.6 percent.
Source : Bloomberg
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